Bilateral trade and tourism relations between the EU and BSEC countries
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Author(s)Evangelos SiskosLink to ORCID Index: https://orcid.org/0000-0002-5221-4444
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Konstantia DarvidouLink to ORCID Index: https://orcid.org/0000-0002-8113-7302
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DOIhttp://dx.doi.org/10.21511/ppm.16(4).2018.09
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Article InfoVolume 16 2018, Issue #4, pp. 91-101
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- 1618 Views
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125 Downloads
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Creative Commons Attribution 4.0 International License
The European Union and the Black Sea Economics Cooperation countries are geographical neighbors and important trade partners. Greece, Bulgaria and Romania have a cross-membership in both organizations. The paper analyzes trends and structure of trade relations of the EU and BSEC countries. The EU trade with the 12 BSEC countries is about 640 billion dollars. The BSEC countries with the EU membership or a custom union with the EU have more intra-industry trade with the EU than other BSEC countries. International tourism is an important component of the trade in services between the regions. Following the review of the factors of international tourism demand, a gravity model for tourism arrivals is presented. The model considers demand in the country of origin, international tourism capacities in destination countries and distance. The analysis helps to determine under-traded and competitive destinations in the BSEC countries for the EU travelers. Greece is the most efficient in attracting the EU tourists. Finally, country-specific differences in demand factors are considered.
- Keywords
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JEL Classification (Paper profile tab)F10, F15, Z32
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References19
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Tables8
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Figures0
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- Table 1. The EU exports of goods to the BSEC, billion euros
- Table 2. The EU imports of goods from the BSEC, billion euros
- Table 3. Structure of the EU merchandise trade with the BSEC countries (2016)
- Table 4. Geographical structure of the EU trade in services and travel services with the BSEC countries (2016), million euros
- Table 5. Trends in the EU trade in services and travel services with the BSEC countries, million euros
- Table 6. Regression results for number of trips of the EU residents to the 6 BSEC countries
- Table 7. International tourism specialization and underexploited tourism potential in BSEC countries
- Table 8. Correlations between trips to the 6 BSEC countries and their factors, by country of origin of travelers
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Foreign direct investment inflow and employment in Nigeria
Romanus Osabohien 
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Oluwalayomi David Awolola ,
Oluwatoyin Matthew ,
Osayande Queen Itua ,
Esther Elomien
doi: http://dx.doi.org/10.21511/imfi.17(1).2020.07
Investment Management and Financial Innovations Volume 17, 2020 Issue #1 pp. 77-84 Views: 1727 Downloads: 704 TO CITE АНОТАЦІЯThe advent of globalization has spurred the level of foreign direct investment (FDI), which has increased the employment level and economic growth in countries around the world. This scenario has also been debated in the extant literature. It is on this backdrop that this study was inspired to examine the relationship between FDI and the level of employment in Nigeria. The article uses the Fully Modified Ordinary Least Squares (FMOLS) and the Johansen co-integration econometric approach on the data, which were sourced from the World Development Indicators (WDI) of the World Bank and the Central Bank of Nigeria (CBN) statistical bulletin. The investigation period covered thirty-two years (1985–2017). Also, the authors adopted the theory of absorptive capacity as the baseline for the model. Results obtained from the study showed that foreign direct investment is statistically significant and positively related to the employment level in Nigeria. These findings imply that a 1 unit increase in the inflow of foreign direct investment to the Nigerian economy is capable of increasing the level of employment by about 0.97 units. Therefore, based on findings, the study is concluded by recommendations that the Nigerian economy should become viable through effective trade policies and programs, which are capable of attracting foreign direct investment into the Nigerian economy for employment creation.
Acknowledgment(s)
The publication support received from Covenant University Centre for Research, Innovation and Discovery (CUCRID) is appreciated -
The problems of development of the tourism industry in Georgia
Anzor Devadze ,
Olha Prokopenko ,
Fedir Zhuravka
doi: http://dx.doi.org/10.21511/tt.2(1).2019.01
Recently, there has been a sharp increase in the number of foreign tourists and revenues from international tourism in Georgia. At the same time, it was noted that the country’s tourism potential is not being used effectively enough, and the main reason for this is the insufficient development of the infrastructure of the tourism industry. The main problems that hamper the development of international tourism in the country are identified. In order to enhance the competitiveness of the tourism industry in Georgia and to achieve its significant improvement, the relevant strategic objectives have been developed.
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Detecting false financial statements: evidence from Greece in the period of economic crisis
Michail Pazarskis ,
George Drogalas ,
Kyriaki Baltzi
doi: http://dx.doi.org/10.21511/imfi.14(3).2017.10
Investment Management and Financial Innovations Volume 14, 2017 Issue #3 pp. 102-112 Views: 1233 Downloads: 496 TO CITE АНОТАЦІЯThe purpose of this study is the examination of the financial fraud in Greek companies, listed on the Athens Exchange for the period of 2008-2015 during the economic crisis in Greece. The data of all the listed companies that were used comprise financial statements, reviews in the reports by the auditors and the figures and information based on the reports of the Athens Exchange. A total of twelve companies were found and they comprise the primary research sample with fraud in their financial statements (FFS), while another twelve companies were employed as a control sample (non-FFS) for various comparisons. From thirty financial ratios, several statistical tests to the sample and the control sample are applied in order to create a model that will use ratios as “predictors” in the analysis of financial statements for fraud. The model is accurate in classifying the total sample correctly with accuracy rates exceeding 90 percent. The results demonstrate that the model functions effectively in detecting FFS in a period of economic crisis and could be used as a tool to the banking system, from internal and external auditors and taxation or other state authorities.
